U.S. Government Bonds Rally After Fed Minutes

Yield on Benchmark 10-Year Note Hits Lowest level in More Than a Year

Treasury bonds rallied Wednesday, sending the benchmark 10-year note’s yield to its lowest in more than a year, as the minutes for the Federal Reserve’s September policy meeting reassured investors that the central bank would be in no rush to raise interest rates.

The 10-year note’s yield fell to 2.331%, the lowest closing level since June 2013. The previous low of 2014 was 2.334% made on Aug. 28. Yields fall as prices rise.